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Precision Fermentation Ingredients Market Size

Report ID: GMI7531
Published Date: Nov 2023
Report Format: PDF

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Precision Fermentation Ingredients Market Size

Precision Fermentation Ingredients Market was valued at around USD 2.2 billion in 2022 and is projected to grow at a CAGR of over 43.2% between 2023 and 2032. The industry has seen tremendous growth due to rising calls for more environmentally friendly and superior grade inputs across diverse sectors. The main tendencies are transition to sustainable plant or microbial based ingredients that appeal with respect to ethical sourcing and consumers look forward.

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Developments in biotechnology, such as fermentation processes, increase production efficiency, slash costs, and provide greater choices for ingredients, boost innovations in food, healthcare, agriculture, and industrial sectors. Furthermore, there is an increased consciousness as regards of the nutritional components that characterize the precision fermentation products and how they can contribute towards solving some of the most vital problems affecting human health such as famine and pollution.

Precision Fermentation Ingredients Market Report Attributes
Report Attribute	Details
Base Year:	2022
Precision Fermentation Ingredients Market Size in 2022:	USD 2.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	43.2%
2032 Value Projection:	USD 79.7 Billion
Historical Data for:	2018 – 2022
No. of Pages:	180
Tables, Charts & Figures:	191
Segments covered:	Product Type, Ingredient Source, Application and Region
Growth Drivers:	Growing Consumer Demand for Sustainable and Ethically Sourced Ingredients Advancements in Biotechnology and Fermentation Techniques Increasing Awareness of Health Benefits Associated with Precision Fermentation Ingredients
Pitfalls & Challenges:	Regulatory Challenges and Uncertainties in Approval Processes.

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Regulatory hurdles pose barriers, delaying approvals and market entry for precision fermentation ingredients. Complex and evolving regulations create uncertainties, hindering rapid innovation and market expansion in this sector.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for precision fermentation ingredients was valued at USD 2.2 billion in 2022 and is projected to reach over USD 79.7 billion by 2032, driven by rising calls for more environmentally friendly and superior grade ingredients across diverse sectors.

Food & Beverages segment held a dominant market share of around 44% in 2022 and is expected to grow at a lucrative pace by 2032 owing to wider adoption of precision fermentation techniques by companies, and increasing consumer demand for sustainable and plant-based food options.

U.S. dominated North American market with a valuation of USD 643.8 million in 2022 and is anticipated to expand at a significant pace from 2023-2032 driven by the rising acceptance of vegetable-based fermentation ingredients, indicating an increase in consumer demand for green & eco-friendly products.

Ginkgo Bioworks, Perfect Day, Motif FoodWorks, Impossible Foods, Clara Foodsare some of the major industry contenders.